10:00am NY Time  US ISM Non-Manufacturing PMI     Forecast 51.0  Previous 50.5
ACTION:   BUY 53.5     SELL 48.5      USD/JPY

We’ll focusing on the ISM Non-Manufacturing PMI today, or better known as the U.S.  Services PMI, and as all Purchasing Manager’s Indexes, it is a leading indicator of the nation’s Services sector, as many investors look at this release for immediate directional preferences on the future of the economy.  With the current analyst’s expectation above the 50 level at 51.0, in the event that 53.5 is reached, we could see some USD strength and JPY weakness; however, if the opposite is true, or 48.5 figure is released, expect to see stronger JPY and possibly risk aversion driven market.